"… When it is evening, ye say, It will be fair weather: for the sky is red. And in the morning, It will be foul weather to-day: for the sky is red and lowering. O ye hypocrites, ye can discern the face of the sky; but can ye not discern the signs of the times?" The Holy Bible
"Many a so-called wise economist ... had not studied past history enough to know that after the greatest advance in history had culminated … the greatest panic in history must follow ... " W. D. Gann

Friday, June 17, 2016

Friday roundup (06-17-2016)

Eurozone releases €7.5bn in bailout funds for Greece: Latest tranche staves off country’s most pressing problems, but there is widespread concern the deal is simply buying time (The Guardian) Greece to Receive Another Chunk of Bailout Aid (The New York Times) EU policy forces Greeks into dire, downward spiral: A colder winter and less food looms as ordinary people are indentured to life of debt (The Irish Times)

Why I'm voting LEAVE [in Brexit vote next Thursday]: Migrant chaos cannot continue, says LEO MCKINSTRY: THE EU isn’t working. Nothing illustrates that stark truth more dramatically than the immigration crisis that has engulfed the entire continent, threatening the very existence of European civilisation. (The Express)

U.S. strikes back at judge's decision that MetLife not 'too big to fail' (Reuters) After MetLife Ruling, Regulators Push Back on [= Defend Right to Use] ‘Too Big to Fail’ Label (The New York Times blogs)

The Fed and other central banks have lost their magic powers: Negative yield on German bonds is just the latest toxic consequence by Satyajit Das (Marketwatch)

Louisiana’s $600 million budget deficit looks to be more like $800 million, economist says (The Advocate) 'Sense of urgency ought to be increasing every day' for lawmakers, Gov. John Bel Edwards says of current special session (The New Orleans Advocate)

The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.